Nike Enters the Metaverse with Sneaker NFT Site RTFKT | Grailify
Nike Enters the Metaverse with Sneaker NFT Site RTFKT

Nike Enters the Metaverse with Sneaker NFT Site RTFKT

Update 12.04.2023

The topic of digital collectibles in the sneaker space is still in its infancy, but Nike is once again leading the way in tapping into new technologies. The leading sportswear company recently announced a unique collaboration with virtual sneaker brand RTFKT to create a collection of 10 Air Force 1 sneakers. Each of the ten Air Force 1s fits one of the "races" in the RTFKT ecosystem, such as: Human, Alien, Robot etc. To purchase one of these limited edition Air Force 1s, you must own the corresponding NFT. From April 24th you can exchange this NFT for a physical Air Force 1. However, delivery will not take place until Q4 2023.
The sneakers will retain the iconic Air Force 1 sole unit, while each style will be themed. Additionally, each collectible will feature the RTFKT Bolt logo and Nike Swoosh logo, as well as Clone X Lace Dubraes. Another highlight is the integrated World Merging Chip (WM Chip). This embedded NFC chip in your sneaker opens the door to connecting your digital NFT to the physical world, granting access to exclusive collector experiences and sneaker authentication. Also, check out the official lookbook here.

Update 08.02.2022

Nike's first NFT is now officially out. Made with RTFKT (pronounced "Artifact"), the collectible "MNLTH" is currently trading on OpenSea for around 4.58 ETH (about $14,300) and is a geometric object with a metal finish. The contents of the cube are unknown, but the logos of Nike and RTFKT are etched on the side. This NFT has been delivered to current Clone X owners alongside the PodX virtual rooms.

Original article 14.12.2021

Another sports label is now entering the Metaverse. Nike will be getting involved in the future with the fashion and sneaker NFT site RTFKT, which was taken over last Monday. Nike has now officially announced this. Here are a few details.

Benoit Pagotto, Chris Le, and Steven Vasilev founded the site RTFKT in January 2020, and it's known for creating virtual sneaker designs as well as exclusive collectibles. They even collaborated with notable designers and companies like Takashi Murakami, Jeff Staple, Lexus, and many others. Earlier this year, RTFKT sold $3.1 million worth of sneaker designs.

"This acquisition is another step that accelerates Nike's digital transformation and enables us to serve athletes and creatives at the intersection of sports, creativity, gaming, and culture," said John Donahoe, President and CEO of NIKE, Inc. "We are acquiring a very talented team of creatives with an authentic and connected brand. Our plan is to invest in the RTFKT brand, mentor, and grow its innovative and creative community, as well as expand Nike's digital presence and capabilities."

Not only is this an opportunity for Nike to continue to grow the brand,  but also for RTFKT. RTFKT co-founder shared the following:

"This is a once-in-a-lifetime opportunity to build the RTFKT brand, and we look forward to capitalising on Nike's fundamental strength and expertise to build the communities we love. Nike is the only brand in the world that shares the deep passion we all have for innovation, creativity, and community, and we look forward to continuing to build our brand, which was created entirely in the Metaverse."

Nike Acquires RTFKT

Nike, Jordan Brand, Converse, and RTFKT — Nike's list of labels continues to grow. Unfortunately, however, the terms of the deal have not yet been announced.

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